Pioneering biodiesel producer Argent Energy offered
23 July 2013
Argent Energy, a pioneer of massive business production of biodiesel in the UK, has been bought by a green investment firm.
Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for a concealed sum.
Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat market.
The company will stay in private ownership and will continue to run independently.
Its senior management, consisting of chairman Andy Hunter, handling director Jim Walker and monetary director Jim Boyd are to remain with the company.
Souter Investments, the personal investment firm of transport magnate Sir Brian Souter, confirmed it had sold its 37% stake in Argent.
'Future potential'
Mr Walker stated the investment by John Swire highlighted Argent's strong market position, including there was now a chance "to take Argent's abilities additional afield".
Barnaby Swire, of John Swire, stated his business was committed to "checking out and buying innovative and viable green industries".
He included: "We are delighted to be obtaining Argent Energy, a business which our company believe can grow and succeed not just within the UK however likewise overseas, in particular in Asian markets with which Swire Group business recognize.
" & Sons Ltd sees in Argent Energy's employees a mix of attributes and worths that work with our own, and anticipate dealing with them to maximise Argent Energy's future potential."
Argent was established in 2001. In 2009 it was purchased by a consortium which included senior management along with Souter Investments.
Its plant at Newarthill, near Motherwell, has the capacity to produce approximately 50 million litres of biodiesel a year.
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Pioneering Biodiesel Producer Argent Energy Sold
Dominique Moncrieff edited this page 2025-01-11 11:40:23 +01:00